In a bid to meet the maintenance cost, the Eiffel Tower in Paris has increased its ticket price. This gorgeous 330 m tall monument is among the world’s most visited monuments and attracts millions every year. But sadly the cost of maintaining the tower has gone up to unprecedented heights, which lead to recent adjustments in ticket prices.
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So now those visiting Eiffel Tower in Paris, will have to pay €35 (INR 3,127) for admission, marking a 20% increase from the previous €29.10 (INR 2,600) fee. This price hike applies across all ticket types and is intended to stabilise the financial health of the Société d’Exploitation de la Tour Eiffel (SETE), the public entity managing the iconic landmark.
The decision comes amidst financial turbulence created by long shutdowns during the COVID-19 pandemic, which impacted SETE’s revenue streams. The tower’s closure in February due to a labor dispute underscored deeper economic challenges. Unionized staff halted operations earlier in December 2023, coinciding with the centenary of Gustave Eiffel’s death.
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Despite these issues, the Eiffel Tower continues to attract global tourists. In 2023, the monument welcomed a record 6.3 million visitors, the highest since 2015. However, SETE, predominantly owned by the City of Paris, faced a staggering financial shortfall, with revenues plummeting fourfold to €25 million in 2020 compared to €99 million the previous year.
Compounding financial pressures are escalating maintenance costs, exceeding €130 million, created by delays in critical refurbishment projects. Originally, Gustave Eiffel mandated the tower’s repainting every seven years to preserve its structural integrity. However, the 20th repainting cycle commenced in 2020, eleven years overdue, due to funding and logistical challenges.
As SETE and Paris City Hall face these challenges, the recent price hike aims to aid financial resilience while ensuring that future generations can continue to marvel at this enduring symbol of engineering prowess and artistic grandeur.
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Also, Paris is all set to host Paris Olympics 2024. The 2024 Summer Olympics, formally titled the Games of the XXXIII Olympiad and widely referred to as Paris 2024, are set to be held as a global multi-sport event from July 26 to August 11.
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